US-based oil firm Kosmos Energy says it has not changed its mind about selling off its stake in the Jubilee Field.
The French News Agency (AFP) reported that the company had rescinded its decision to sell off the stake estimated at some four billion dollars to ExxonMobil.
The AFP, quoting a Kosmos official who preferred to remain anonymous said the company had decided that the best option now is for them to stay and see through the production of oil from the Jubilee field rather than sell.
The company Official is further quoted as saying there are very good prospects on the Kosmos blocs which they believe should be developed to enhance the value of their assets. A source close to the company however tells Joy Business there is no truth to the reports. He would however not comment further.
Kosmos’ bid to sell its stake in the West Cape Three Points and Deepwater Tano blocs in the Jubilee field hit a snag after government said it had breached protocol by approaching a suitor without first consulting it.
Source: Joy Business/Myjoyonline.com/Ghana
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